Skye Bioscience appoints Karen Smith to the Board

Skye Bioscience announced the appointment of Karen Smith to its Board of Directors. Smith brings significant global biotech and biopharma leadership experience, complementing the Company’s operational and clinical expertise. Nimacimab metabolic program will be supported by an evolving board as Keith Ward, and Praveen Tyle, resign from their roles as Board members, effective as of August 1. Karen Smith has served as a C-suite biotech industry consultant and pharmaceutical executive, member of the board and clinical and scientific advisor during her 20-year career. She has held various roles, including CEO, Chief Medical Officer, and President. In connection with the appointment of Brennen Brodersen as General Counsel of the Company, on July 2, Skye granted Brodersen a stock option to purchase 60,000 shares of Skye’s common stock under the Company’s 2024 Inducement Equity Incentive Plan, 25% of which will vest on June 17, 2025, and the remainder will vest in 36 equal monthly installments thereafter. The stock option will have an exercise price equal to the closing price of Skye’s common stock on the Nasdaq Global Market on July 2, 2024. Skye also granted Brodersen 15,000 restricted stock units under the 2024 Inducement Plan, 25% of which will vest on June 17, 2025, and the remainder will vest in 36 equal monthly installments thereafter.